Hackernoon logoHow To Get Your Token Listed On A Crypto Exchange (Podcast Transcript) by@amymtom

How To Get Your Token Listed On A Crypto Exchange (Podcast Transcript)

Amy Tom talks to Yevheniia Shmelkova, the Token Specialist at Mysterium Network about crypto exchanges. She confesses her fears of investing in crypto and eases Amy's concerns about being a first-time investor. She explains some of the strategic decisions behind choosing which crypto exchange to get listed on including assessing your overall goal, understanding your community, and more. Find out on this episode of the Hacker Noon Podcast. Your Hacker Noon Editor & Pod Host. I'm also a businesswoman, diversity advocate, and true crime lover.
Amy Tom Hacker Noon profile picture

@amymtomAmy Tom

Your Hacker Noon Editor & Pod Host. I'm also a businesswoman, diversity advocate, and true crime lover ✌️

Amy Tom talks to Yevheniia Shmelkova, the Token Specialist at Mysterium Network about crypto exchanges. Yevheniia explains some of the strategic decisions behind choosing which crypto exchange to get listed on including assessing your overall goal, understanding your community, and more. Why would I list my project on a crypto exchange? When is the best time to list my project? Find out on this episode of the Hacker Noon Podcast.

In this episode, Amy and Yevheniia discuss:

  • Amy confesses her fears of crypto and Yevheniia eases Amy's concerns about being a first-time investor (02:50)
  • At what point should you get your project listed? What happens after the project gets listed? (06:03)
  • How to choose which crypto exchange to get listed on (09:09)Does it make sense to list on multiple exchanges? Yevheniia says, "it depends" (11:36)
  • The difference between centralized exchanges and decentralized exchanges (12:43)
  • The best listing strategy when it comes to crypto exchanges (14:26)
  • The popular exchanges to get listed on. Does Amy really need to ask? Yes... yes, she does (16:25)
  • Yevheniia's advice for companies/people who are listing a token for the first time (18:52)
  • Mysterium's token, Myst, which is how Mysterium users pay for their VPN (21:36)
  • How can "crypto babies" like Amy learn more about tokenization? (24:02)

Follow Yevheniia & Mysterium Network:

Machine-Generated Podcast Transcript (Please Excuse The Errors)

Amy: [00:00:00] So, you know, well that meme where Spiderman comes out and then all of the other Spiderman follow him. I am wanting everyone to picture me as Spider-Man, as when I'm dropping into your feed three times a week. I'm coming in. On a train, a Spider-Man train leading the way. And I also just want to talk about how Peter Parker shouldn't have pursued MJ.

I mean, MJ is only in it for him being Spider-Man. She thinks Peter Parker is a loser. She just thinks that Peter Parker didn't show up to her concert and he should have just let it go. So that's all I have to say for today. Anyways, this is the hacker noon podcast, of course. And my name is Amy Tom. Today.

I am joined by Yevheniia and she is the token specialist at Mysterium. So again, yeah, please introduce yourself to the podcast. So, hi guys, my name is Eugenia, and as Emily mentioned, stamatakis specialists that this do network. So I mean responsible for like all real talk human development, as well as shelter and then longterm.

Yevheniia: [00:01:14] So for our external communication is exchanges external stakeholders, as well as developing various talking based initiatives to support our committee. Cool. And can you tell me how you got started in the crypto industry? I think that's interesting. Yeah. So it actually started for my personal interest. I have one friend and she actually started mining.

If you have in 2017, when it feels like on the hive and then I wanted to make them more bucks. So I entered it as a crypto trading course. And then also it was like a boom of all these bounties and ICO's. So I was also in participating some like boundary campaigns and in some I still project to go out what are scams and not so.

Those story. And then it actually drove to personnel, like prefer more professional development. Okay. So before you took the crypto trading course, were you already inter interested in trading and stock exchange things? No. No investment experience. Yeah. Actually in Ukraine is not so easy. So you need to, you know, interrupt.

We are external provider and there is like high entry barriers, like. Thinking as dollars for initial start or something like that. It depends the cost of the provider. So I was not interested in for mutable. Something really scared, scared for, you know, you think that you lose all your money, you will just invest.

So I was like, what a paste? And then like crypto course changed my mind completely. 

Amy: [00:02:49] Oh, okay. Why though? Because for me and crypto currency, I like, I still feel like if I put all my money in cryptocurrency against gonna disappear, I don't understand.

Yevheniia: [00:03:03] No, actually, it was really like an easy one. So first of all, it's, you know, everyone can enter an exchange and trade in a decentralized or centralized, if not. So parents, and there is now a for instance, a lot of internship and other courses available in line with all this trading, um, you know, fundamental technical analysis.

Explanation. So it's not so hard. It's also depends on whether you would like to spend like a lot of time on it. So it's also, yeah, it regards some time. So tell me about the course that you took. What did it entail? Well, small actually for, I would say needing in long jump trading. So it was , but I would say that I was not so.

I wasn't fading so long. I then actually shifted to trading bots on crypto exchanges. It's not the topic, but, um, okay. Interesting. Yeah. I have very like mad imposter syndrome about anything to do with crypto. I think it's like very. Complicated. Of course I'm reading about it and learning about it as I go, but it just seems very like convoluted, very complicated.

Amy: [00:04:19] So I think actually, I think it's interesting that you can decode it and that you say that there's a lot of tools that you use to understand it, because I think I'm just coming from like the very beginners edge, like as if this was 2016 and I just. It's coming up into it, but yeah. So I want to talk to you about the crypto exchanges today, because of course, you know, a lot about that.

And so as a token specialist, especially, so can you tell me a bit about. I guess to start with what crypto exchanges are. Um,

Yevheniia: [00:04:55] it's like an eternity, um, as it is on the stock market, like a stock exchange, but for the put to clients market. Yeah. So it's like, I would explain in really simple words. Okay. So I'm not superstition, it's all this like professionally naming, but I think it's. They're really easy to understand. Right. And with your experience of crypto exchanges, are you experienced in helping people get their project listed or are you experienced as a consumer or user?

So of course actually responsible for the listing of our project on different exchanges, whether it's decentralized or centralized exchange. And while we are getting listed to an exchange, I need to drive by myself. Personally, wolfed will be the first, like the experience of our users. Wednesday, we'll be interacting with this particular exchange.

Amy: [00:05:55] Yeah. So at what point should I get my project listed on a crypto exchange then? I would say that it's actually advance on like your oral strategy and oral development. So back to 2017, everyone was really in rush to get listings they're talking on the exchange, but then a year later when the Bush markets would over, we figured out there's a lot of budget that doesn't happen.

Yevheniia: [00:06:19] Working product behind them. And for instance, we have like gone in a different way. So for three years ago, just like stick to our white paper developed as a product. And now we are shifting our mindset to include this listing in one strategy. So those days we fell asleep, like build a working product.

We had achieved lends the last year, 200,000 downloads of our products of our VPN, like our flagship product. And then for the last several months we have added two exchanges. It was between global food supplies, exchanges, and it was quick swap, build a magic from decentralized exchanges, like in the last four months.

Amy: [00:06:58] Okay. And can you explain what happens after my project gets listed on the crypto exchange that I choose? Yeah. So what had happened on the market is there is actually one pattern for young project, especially. So when you get listed, is there a thousand? So for the first several days to several weeks, your price increase, your trading volume really cruel, and you seem like, wow, am I talking, will be to the moon, but then decreased.

Yevheniia: [00:07:31] It also is liquidity drops, the price drops, et cetera. So after the listing, you also need to think about this process, like emotion perspective and an inbox. So you can just one step, you also need to think how we can incentivize your community, like in several months after this team and how we will maintain liquidity.

It's also an important question because if, for instance, we are talking about. Centralized exchanges, reputable exchanges that can even domestic project if you're not able to maintain liquidity. And yeah, and for this implies exchanges, some if for example you can, for instance, work with a professional market maker for dexting to incentivize the community, to invest in predictable.

So it's ultimately different. And we, for instance, created this each engagement conveniently spot. It was in January, February, 2021. And when we experienced them increase by 50% non PDT. And we're also planning to launch one on version three. I hope you have seen that in the soft launched version three today.

Yeah, they want should today. Yeah. Okay. And how do I choose which crypto exchange to get listed on? So this question should start from one important point, as well as you're going to based it on hex or index, because there's two exchanges, it's very different. And also the choice process is different.

So for instance, sports-wise exchanges. First of all, of course you will see on the trading volume, but some of them are patients, very volume atrophy showing. So to be picking on it and I would recommend what we have done. I was also going to aging, the website traffic. And the average time that the user spent on the exchange website and all the information is just public or you can use do for instance, like similar math for that.

So for instance, if an exchange has one billions of trading volume, it's really high, and then you see that like for the last year only 400, tell them diffusers have visited this website, the trading volume. With high percentage can be fake. For instance, if the average time that she's, uh, spent on the website is one year to half, it's nothing for trader.

So it seems like there's bots that are really increases his traffic. So I need to be pretty how would say choosing when you're picking the exchange and also last but not least most important point is that you need to check the news. I need to check the reviews. Uh, because some exchanges were hacked.

For instance, they need to, non-US some exchanges, for instance, as OPEX in October, 2020, they , or from fans for their users for several weeks, as far as I remember. So for instance, I don't want this negative experience for my community because I know that it can also affect like our brand image. So I'm trying to avoid this exchange.

Amy: [00:10:26] Where would you suggest that people look to follow the news of this? I think it's just like most crypto stars is like going desk until graph, et cetera. So something in ops, all sponsor, you know, when they really provide nice overview of the major news. Yeah. And I guess you can still like, look at Google before you decide to list and then check out like the news tab too, just to make sure that there's no negative coverage of it.

Okay, cool. Would it make sense to be listed on more than one crypto exchange or is that not really a thing? I would say that it depends. Of course, as I said previously, like, so first of all, if you're a new project you have recently launched the you're talking, speaking, honestly, top two exchanges are not so interested in you.

Yevheniia: [00:11:24] So it will be really hard to, you know, um, you know, based on Binance or whatever, right. Start from like small one. And then when you grow, you can go to the bigger one. Also unique to think about a geographic distribution of your target audience. So for instance, if you have a significant user base in the U S and then you are listed on the exchanges that restricted us visitors to trade, you need to somehow animal to figure it out, to allow the users to access the document.

Right. We have fight and all that connects to, with two different exchanges to the suppliers and to centralize. So users from different regions to like, can you explain the difference between centralized and decentralized crypto exchanges? It comes from the name. Yeah. So centralized is related by Samson's wise body.

It can be like a company your companies. And decentralized is modulating by anyone. And from this, there are differences. So for instance, internalize exchange, your money are on the exchange wallet. So they're not in your personal wallet and the company controlled it. So I mean the exchange control of it, but on the other hand, so usually centralized exchanges have meetings experience and they can support you because they have support team.

So for decks, for instance, your funds are in your vault. So you have, you know, um, you have more of this fraud risk, but on the other side, you need to educate yourself or some exchanges, how to train on them. And also there is no one who will support you, except of course, Google searches if they don't have any issues with it.

Amy: [00:13:04] And so why do you think that people would choose decentralization over centralization? I think they can seek for anonymity festival because we know most of Texas, you need to,  all this withdrawals, deposit leads, whatever, et cetera. And on decks electric patrol or your phones. And there's no one who is picked you, you can be located in whatever country you would like to be.

Yevheniia: [00:13:35] Is that an actual countries or for instance, If we're getting cryptocurrency, as I know, like India, they have really tough situation with that. So it's really hard to buy and sell it. So, you know, I would say it's more about or less and freedom. Okay. So can we talk about like listing strategy, right? Like there's obviously different various goals that you can have for your token, but if your goal is to gain popularity, which I think is, would be like a common goal for it to have someone, uh, have, if your goal is to gain popularity for the token, then what's the best listing strategy when it comes to crypto exchanges.

I would personally say that you don't need to, like, as for project to proceed with Christine as a separate strategy, because you know, like you have your company strategy and it's one part of it. So listing itself will not bring your talking to one. So speaking, like being pretty honest, sharp them initiative.

It's nice because it is your brand awareness. So you can gain momentum. You know, you can, I don't know, increase your token holders base, but for term you need to think about technology. Well, not talk at the moment here. Well, doge coin, because of course I would say it's more, it's more an exception, but you've got talking about like a normal project and you just think about what you will do when the market will come.

No one will care about your talk in the various markets. They will care. What would you actually suggest to the community in general? Yeah. Okay. So if tokenization isn't the be all end all, then what else can they do to increase popularity of their token? Do you think? And all this listing process, whatever in general, it's various trading initiatives.

So let's actually Australian competition, a drops, bounty, different campaigns, whatever. So usually it's really supports your community. You can also do various campaigns that will be linked to the particular date. For instance, is the contaminant like a link to the last year or two Valentine's day in campaigns or something like that?

Amy: [00:15:48] Some like, can you give me some examples of popular, decentralized and centralized exchanges that people try and get on?

No, I've never traded.

Yevheniia: [00:16:08] Okay. So if we're centralizing change, of course it's stopped. Number one is Binance and there are several more first to speed tricks. So where we listed also Rockend Lanex Coinbase. These are several and essential for decentralized exchanges for him. The first one building a feed is not , but one of the most popular builds in the fear of missing the swap.

And also there are several folks of it such as for instance, bank expo on Binus machine and they answers, but you as well. And thank you. So I've seen, I think the downhill giants indexes, right? 

Amy: [00:16:51] So you mentioned that like, so with, by announced, right? Like if I'm a smaller company or I have a smaller following of my token, it would be harder for me to get on Binance because it's more popular.

Yevheniia: [00:17:03] Correct. Uh, they have higher entry barriers. So basically the reason and first of all, they are much more choosy to projects. And, uh, you need also need to understand that if you are listing on the centralized exchange, you need to provide a lot of documents. Such expensive Spurgeon or deeds, and also like proof of companies address, et cetera.

So other like big legal documents, which you don't need to actually index index. Everyone can,  talking whatever. Also the second point, is that usually resting on top your exchanges cost a lot. I think it's well known. Sometimes it can be up to even several hundred thousands of dollars. So yeah, it works so cheap.

You also need to consider at this point and, you know, 

Amy: [00:17:56] Yeah. So I'm just wondering, like, if I'm a business owner and I'm choosing which exchange to get listed on, I obviously have to balance between having popularity and managing the requirements of getting listed on the exchange. So what are, do you have any tips or pointers on how to do that or advice to people?

Well, who are trying to get listed for the first time? 

Yevheniia: [00:18:19] I would say that. As I was doing previously, I was trying to reach Festifall like, so I created like a list of, for instance, 24, 10 exchanges and I've ranked them. So, first of all, I tried to reach like to the most, let's say, desired exchanges and amount list.

And you don't get going step by step because usually this process for sex it's, it's really long set of exchanges can review your request for several weeks and they can even not to answer you. So it's like normal  so you'll get information and then you're choosing. So I personally am I created like a specific metrics I know, discussing together internally with my team.

Like, what is it in mean? So what will bring us more brand developments for instance, and what will be much more convenient for our community too. We have also, for instance, bring Asland down the questionnaire. I think several years ago, when you're asking them this, what grip exchange you use. And one of the, I would say high spanking was extra and be fixed.

So we have children because, you know, we are also waiting on what community really wants. So yeah. But this, you can actually also ask your community as the same. We come down this quick swap, for instance, we have created the questionnaire and people voted for that. So, you know, it's show that you missed in your committee.

Yeah. Yeah. Okay, cool. Why do you think it's important to get listed? Of course it bounces it's Technomics, but you need to give an access to your talking to your community. So for example, maced, like our token is a payment between nodes, runner and a service, a service consumer. So you're using it to buy a talking to be for thermos.

So it's need to be, need to list somewhere your token. So then they will be able to buy this. So you can sustain for any other projects. Also, for instance, they are also modifying also economics, and we will add staking competence. So Simon will provide more babysitting the motor and disbar community, I would say, so this like main form, but of course it's nice, like in general, because it had this enhancement of brand awareness in general for your project, I would say it's usually positively affects it.

For engine development. Yeah. That makes sense. I think it's like a very simple question, but like, it takes some thought to like really pinpoint the importance of it and like discuss it. So, yeah. Thanks for that. Can you tell me more about mist, the Mysterium token? So mean, like what is the activity with what is, okay.

So, as I already mentioned is a payments mean in our system. So users famous, miss tokens and Ms. Dawkins. So like everyone can run the notes in the student network and it seems like that's being done for instance, at the moment now. Also, I have mentioned that we will be upgrade towers of economics to phases stating competence.

So there will be an opportunity to earn more money by they can miss. And I think it's really like a nice option of four, especially because it's like affects the home impression. And so, you know, taking toxins out of the markets it's positively affect the demand talk and et cetera. So in general, in schools, so we have, I would say it's like many trilogy.

And also we have all the geometric project, some projects built on top of this general network. So we are also trying to develop ourselves not only as a DPM, but also other. Network on which like anyone can build their own VPN. Oh, okay. Right. And actually, can I ask you, how long have you been working at Mysterium?

I would say not so long. Something more than half a year, I think. Okay. And what was your first, what was your first experience like professional experience with tokens? Um, I was actually working for various projects previously, mostly as a crypto analyst, like freelancer and I was also working for one investment fund.

And at that moment it was, I think to tell them I've been 18 or 19 as like in marketing the bottom. So right at that moment, like launches are talking, but most of them are focused on. Providing more passive income benefits for their masters. I would say I was not indirectly engaged in all this list listing process, but I was always near this, but from another side, Yeah, I'm just wondering if you have any advice for up and comers people in the crypto space who are just trying to get into it or little a crypto baby is like me on how to learn more about crypto exchanges and just in general.

I would say that, first of all, you to answer the question for yourself, what are the goal for this? Do you want to, I don't know, maybe invest in some projects and them make more money or you just want to like, increase awareness about it. So it depends on just general information. I think Google works pretty well.

Yeah, but it's for something more in depth. I would say first as San person and doing I would like bizarre as reports or like private the school. They really are doing this, you know, nice in-depth reports. And how do you think that you learned about the strategy when it comes to crypto exchanges? Just by doing, I would say yes.

Okay. So in theory, you know, Yeah. I've also been working with, um, of course I have a lot of nice teammates to have this experience. So they shared something. Was there also a lot of small things that you recognized while you are working frost? So I will say though, you will never be able to read like all obstacles that you'll figure out you as listed.

So it's only by doing and you don't need to be scared about, you know, it's just like a normal process. Yeah. 

Amy: [00:24:50] And would you say that the ability to choose the like quote unquote right crypto exchange will make or break your project? It means that if every project will be able to miss that on the exchange that they really want.

Yeah. Like what happens if I pick the wrong exchange? Is that a thing? 

Actually there is always a Swiss. Yeah. Especially if, for instance, you're listed on an exchange and then you figure it out, it's just really scum. Sometimes it happens. I would say they're supposed to fall. You need to be honest with your community.

Yevheniia: [00:25:25] So more support to find this. And this will be like negative to you and it will be also like negative for your brand image always. Yeah. And then of course, to provide the support that you can at least. So for instance, while you're listing, you have some contexts with the direct team, does it have any issues?

I don't know, like this role is essentially you can try to support them, like from another side because you don't like the direct contact to exchange team. And like it's more space. Of course you can try to find number one, you know, help to say, to eliminate the negative impact that your community has perceived with the communication with the exchange.

But I don't recall, like the project that I listed in to this podcast will never figure it out. This negative experience, always big thing by choice. Do you know of any like real life examples of a token that was listed on a scammy exchange that came back and is still popular. No, I think linking that it's a killer tolerant of tokens.

So, you know, there's, so it's not possible to monitor all of them. So, you know, easily your competitors or the top performers, because if you have no, no time to money to throw them all on the tokens, coins, whatever. Yeah. So, I mean, at the end of the day, then getting listed on a crypto exchange is truly a strategy because you could, you could do the wrong one.

Amy: [00:27:05] And I guess, would you say that like, there are better ones than others? Right? Like, I, I could, if my goal is to gain popularity or my goal is to increase my revenue, there are better exchanges than others that I could be choosing to help me meet my goal right now. Yeah. Okay, cool. That makes sense. All right.

Great. Well, thank you very much for coming on the podcast. I really appreciate it. I learned a lot about crypto exchanges that I had no idea before. So I'm really excited about that. If the listeners would like to find Mysterium and learn more about Mysterium online, where can they look? You can visit our Mysterium book, network websites, and of course our older social media, such as Twitter, telegram channels, you can think of us on these courts also.

Yevheniia: [00:27:53] And I think I will drop my LinkedIn link just for some, if someone would like to make any kind of business partnership or whatever. Perfect. I will put all of that in the show notes. Thank you very much for coming on the podcast. Thank you. If you liked this episode, don't forget to like share and subscribe to our podcast page.

Amy: [00:28:14] This episode was produced by hacker noon. It was hosted by me, Amy, Tom, and it was edited by Damian. See you guys again. Next time. .

Amy Tom Hacker Noon profile picture
by Amy Tom @amymtom. Your Hacker Noon Editor & Pod Host. I'm also a businesswoman, diversity advocate, and true crime lover ✌️I Help Businesses Sell


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